Bitcoin's struggle to build long-lasting uptrend remain: Here’s why

💡 DMK Insight

Bitcoin’s struggle to maintain momentum above $70,000 signals a critical juncture for traders. With BTC currently at $74,383, the overhead resistance in the $75,000 range is proving tough to crack, especially as rising US treasury yields create a more challenging environment for risk assets. This backdrop is likely prompting profit-taking among traders, which could lead to increased volatility in the short term. If BTC fails to establish a solid footing above this resistance, we might see a pullback towards the $70,000 support level, which could trigger further selling pressure. It’s worth noting that ETF demand, while a potential bullish catalyst, appears to be waning, and this could dampen upward price action. Traders should keep an eye on the correlation between BTC and treasury yields; a continued rise in yields could further pressure Bitcoin prices. Watch for key levels: if BTC breaks below $70,000, it could signal a deeper correction, while a sustained move above $75,000 might reignite bullish sentiment. The next few days will be crucial for determining BTC’s trajectory.